REWARD AND WORKERS’ PERFORMANCE IN BANKING INDUSTRY IN LAGOS STATE (A CASE STUDY OF FIRST BANK PLC.)

ABSTRACT

The study examined the impact of reward on employees’ performance at First Bank Plc. Chapter one examined four research questions and four research hypotheses which were formulated in the null forms. The significance of the study was also examined which its scope was limited to the First Bank Nigeria Plc located in Lagos State. Relevant literature from various authorities were reviewed under the following sub-headings: Theoretical framework, importance of reward and workers’ productivity; motivation among Nigerian employees, the banking hospitality, an empirical studies of related to the use of tangible and intangible rewards in employees motion, concept and types of motivation, the process of reward and so on. The methodology which further dwelt on the following: research technique, instrumentation, procedure for data collection and procedure for data analyses. Data analyses were carried out in which the bio-data and the questions were analysed using the simple percentage frequency count while the hypotheses formulated were tested with the application of the Pearson Product Moment Correlation Coefficient statistical tool at 0.05 level of significance. At the end of the exercise, the following results were obtained: there is a significant relationship between reward and productivity of workers, there is a significant relationship between bank employees who are rewarded and those who are not, there is a significant relationship between workers’ performance who are trained and those who are not, and there is a significant relationship between poor salary and workers’ performance in the banking sector.

TABLE OF CONTENTS

Title Page i

Certification ii

Dedication iii

Acknowledgements iv

Abstract v

Table of Contents vi

CHAPTER ONE: INTRODUCTION 1

1.1 Background of the Study 1

1.2 Statement of the Problem 3

1.3 Purpose of the Study 4

1.4 Research Questions 4

1.5 Research Hypotheses 5

1.6 Significance of the Study 5

1.7 Scope/Delimitations 6

1.8 Limitations 6

1.9 Definition of Terms 7

CHAPTER TWO: LITERATURE REVIEW 9

1.1 Theoretical Framework 10

2.2 Importance of Rewards and Workers’ Productivity 12

2.3 Use of Rewards in Motivation of Workers 15

2.4 Motivation among Nigerian Employees: The Banking and Hospitality 23